17 May 2012

Sayenko Kharenko advised on USD 50 mln loan to Ukreximbank

Sayenko Kharenko acted as legal counsel to European Bank for Reconstruction and Development (“EBRD”) in connection with USD 50 million loan to JSC “The State Export-Import Bank of Ukraine” (“Ukreximbank”).

A five-year loan to Ukreximbank will support lending to small businesses across the country to implement energy efficiency projects. This transaction is structured using an efficient loss-cover mechanism funded by EBRD, which will partially mitigate the risks of Ukreximbank and facilitate better access to funding for small and medium-sized enterprises (SMEs).

Since 2007 EBRD has provided almost USD 470 million to Ukreximbank through subordinate debt and long-term debt transactions making it EBRD’s largest financial-sector counterpart in Ukraine.

Sayenko Kharenko team for the current transaction included partner Nazar Chernyavsky and associate Anton Korobeynikov.

Earlier Sayenko Kharenko advised EBRD on a number of projects involving Ukreximbank for the total amount of over USD 385 million.


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